A wide variety of housing types and styles are available in city, suburban, and rural locations. Choices include downtown apartments in renovated warehouses, historic townhouses, golf course and waterfront communities, and farms. Whatever your lifestyle, there’s a place for you in Greater Richmond.
- The counties of Chesterfield, Hanover and Henrico are triple AAA rated for their financial bonds, and the City of Richmond has Aa2 and AA+ ratings.
- One of 13 “Major U.S. Cities Where You Can Live Well on Less Than $50,000 a Year” — Inc.com
- #2 City Millennials are Moving To – Time
- Top 5 Hippest cities in the U.S. everyone under 30 wants to move to – Business Insider
- #16 Most Millennial City – Politico
- 100+ murals decorate the Richmond City landscape.
House and Apartment Pricing
The average sales price of existing homes in the Richmond Metro Area was $318,488 in 2020, according to the ACCRA Cost of Living Index. Average monthly apartment rental was $1,127 for a two bedroom apartment, according to the ACCRA Cost of Living Index.
Cost of living in the Richmond MSA decreased in 2020 and is 94.9, with housing at 87.4 index, both well below the national average. The average new home price is nearly 13.8% below the national average, and apartment prices are 3.6% below the national average.
In addition to low costs, residents in Greater Richmond are getting plenty of space for their rent/mortgage. 90 percent of houses and apartments in Greater Richmond have patios, and 73 percent have two or more bathrooms.